Asian Casinos

The casino business is taking off in Asia, with several governments in the region eager to attract more tourists and earn receipts from gambling, the report said. The boom is likely to attract further investment from casino companies listed in the United States. Some of the biggest names in the gaming industry, such as Wynn Resorts, Las Vegas Sands, MGM Mirage and Harrah's Entertainment, hope to generate about 20 per cent of their revenue growth from Asia in the next decade. "Asia is home to the fastest-growing market in terms of consumers that are able to participate in casino gaming activity due to their increasing levels of disposable income," said Globalysis analyst Jonathan Galaviz. The forecast for Asian casino revenues compares with the US$9.1 billion collected in Clark County, Nevada, which includes the Las Vegas strip, in the past fiscal year.

The four major casino and poker tournaments operators in Las Vegas have either invested in or are seeking to invest in Macau, which has become a gambling centre for Chinese tourists. Macau, the former Portuguese enclave that reverted to Chinese rule in 1999, is the only Chinese city in which casino gambling is legal. It has flourished since Beijing relaxed travel restrictions on mainland Chinese. Macau was successfully transforming itself from a gambling destination to a "holistic tourism destination" with entertainment options such as theme parks, Mr Galaviz said. Globalysis, which focuses on the tourism, casino and aviation industries, said US casino firms would look beyond Macau to other markets in Asia as they opened up. Singapore's government scrapped a ban on casinos last year and plans to build two casino resorts to boost economic growth. Macau's success and Singapore's high-profile casino resorts will prompt more Asian governments to consider legalising casinos, the report says.